Three judges announced the verdict Tuesday in the presence of the defendants in a packed courtroom in Dhaka, the capital.
They found Obaidul Haque Taher and Ataur Rahman Noni guilty of genocide and other crimes. The two had pleaded not guilty.
Bangladesh says Pakistani soldiers, aided by local collaborators, killed 3 million people and raped more than 200,000 women during the nine-month war in 1971 that led to the creation of Bangladesh. Until then it was the eastern wing of Pakistan.
Twenty-five people have been convicted since a special tribunal was set up by the government in 2010.